Many states and countries currently sponsor on-line lottery and lottery-type games. Typically, the larger jackpot games are LOTTO and multi-state POWERBALL, whereby consumers have a chance of winning a jackpot by matching six or seven numbers out of a possible set of 40 or 50 numbers drawn by the lottery sponsor on a weekly or biweekly basis. Smaller jackpot games include PICK 3 and PICK 4, and involve matching three or four numbers from a set of 10 numbers drawn daily. State-run on-line games are sold to consumers in full unit, fixed-denomination tickets (usually $1), play at equal odds, and share jackpots equally across all winning tickets. There has been no experimentation, however, with methods that allow consumers to purchase on-line game tickets in fractional denominations of any amount up to $0.99, and that share jackpots on a pro-rata basis.
Although state-sponsored games of chance have become more popular over the years, there are periods of stagnation in their revenue growth, which can be directly attributable to the level of public interest and enthusiasm for the games at any particular point in time. In order to maintain the public's enthusiasm for lottery-type games, the states must constantly search for new methods of play to entice consumers to play on-line games.
Most efforts to increase enthusiasm for lotteries have centered on creating games that feature bigger jackpots, vary the number matching combinations or update the promotion "themes". No experimentation has been done with methods that achieve "gaming excitement" by offering players the prospect of conveniently wagering their "small change" for a chance at winning a big jackpot worth thousands of dollars.
Because this method allows consumers to exchange their change for game tickets in an amount they find most convenient at the time of purchase, the game described herein will capture new players, re-capture lapsed players and increase revenues for state-sponsored lotteries.
In addition, potential players will appreciate the game's convenience of converting change into fractional game tickets because research shows that most Americans genuinely dislike handling and counting loose coins.
In fact, most Americans would rather accept a lesser amount of money in bills than more money in loose change; 68% would choose a $50 bill over $55 in coins. Seventy five percent stockpile their loose coins at home, rather than make the effort to handle change during transactions. Over 54% of consumers don't take the time to count their change after a purchase. American's dislike for their own change has now carried over to dislike for other people's loose change. Nearly 1 in 4 report annoyance when someone holds up the checkout line in order to search for, and pay with exact change.
In view of the foregoing, it can be seen that there is a need for a new on-line game that will appeal to players and increase state revenues with a method that is convenient, easy to understand, and can be incorporated within the current state-sponsored on-line terminal and infrastructure systems.